** the following day **
AbbVie beats by $0.01, misses on revs; narrows FY16 EPS near high end of range; raises dividend 12% :
- Reports Q3 (Sep) earnings of $1.21 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.20; revenues rose 7.4% year/year to $6.39 bln vs the $6.55 bln Capital IQ Consensus. Worldwide adjusted net revenues increased 8.0%, excluding a 0.6 percent unfavorable impact from foreign exchange rate fluctuations.
- Global HUMIRA sales increased 11.3 percent on a reported basis to $4.06 bln (+17% to 2.65 bln in the US); +12.1% ex-FX. Strong global growth was driven by continued momentum across all three major market categories -- rheumatology, dermatology and gastroenterology.
- Third-quarter global IMBRUVICA net revenue was $501 million, with U.S. sales of $437 million and international profit sharing of $64 million for the quarter. Total company sales growth was also driven by strong operational growth from Creon and Duodopa.
- Co issues in-line guidance for FY16, narrows EPS to $4.80-4.82 from $4.73-4.83, excluding non-recurring items, vs. $4.82 Capital IQ Consensus Estimate.
- AbbVie is also announcing that its board of directors declared an increase in the co's quarterly cash dividend from $0.57 per share to $0.64 per share beginning with the dividend payable on February 15, 2017 to shareholders of record as of January 13, 2017. This reflects an increase of ~12%.
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